OTA expects annual total transactions value of £1.1bn
On the Beach hails record summer with 2024 bookings ‘significantly ahead’
On the Beach has hailed its best ever summer with record total transaction value (TTV) of £1.1 billion expected for the year to September 30.
The level was up by 26% year-on-year driven by growth in volumes and average booking values.
The company projected in a pre-close trading update that pre-tax profit for the financial year would be at the top end of market expectations.
The group expects summer 2023 passenger numbers to be 11% ahead of last summer, with winter 2023 currently 26% ahead of the prior year.
“Notwithstanding that it remains in its early stages, bookings for summer ’24 are also significantly ahead of the prior year,” On the Beach added.
The group expects a 70% increase in long-haul TTV and a 30% rise in the premium five-star segment – its two strategic expansion areas.
New chief executive Shaun Morton said: “We continue to leverage the benefits of the investments we have made in our proprietary technology platform, brand and proposition and I am pleased to see that this has driven growth in both the top and bottom lines during the second half of the year as planned.
“Alongside access to greater seat and bed capacity, this has resulted in our most successful summer, sending more passengers on their holidays than ever before.
“Following our strong second half performance we will exit FY23 with the momentum of a record forward order book and demonstrable progress in strategic expansion areas, which we are excited to build upon in FY24.”
Full results are due to be issued on December 5.